The bloc’s total defense spending in 2024 exceeds China’s by about one-and-a-half times, and is more than three times as high as Russia’s military budget. Only the United States has higher military expenditures. The figure represented 1.9% of the bloc’s GDP, and a 19% increase over the previous year.
The European Union collectively spent €343 billion ($402 billion) on defense last year, exceeding projections and setting a new record, according to a new report by the European Defense Agency.
Yehaw.
Defense dollars stretch farther in Russia and way farther in China than in the US or Europe. By purchasing power China is at least on Par with the US.